Defective Mortgage Loans. If any Mortgage Loan is required to be repurchased due to defective or missing documentation pursuant to Section 2.04 of the Pooling and Servicing Agreement, MLCC shall, at its option, either (a) repurchase or cause the applicable seller of such Mortgage Loan to MLCC to repurchase such Mortgage Loan at the Purchase Price, or (b) provide or cause the applicable seller of such Mortgage Loan to MLCC to provide a Replacement Mortgage Loan, subject to the terms and conditions of the Pooling and Servicing Agreement.
Appears in 6 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2004-G), Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2004-E), Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mortgage Investors Inc)
Defective Mortgage Loans. If any Mortgage Loan is required to be repurchased due to defective or missing documentation pursuant to Section 2.04 of the Pooling and Servicing Trust Agreement, MLCC shall, at its option, either (a) repurchase or cause the applicable seller of such Mortgage Loan to MLCC to repurchase such Mortgage Loan at the Purchase Price, or (b) provide or cause the applicable seller of such Mortgage Loan to MLCC to provide a Replacement Mortgage Loan, subject to the terms and conditions of the Pooling and Servicing Trust Agreement.
Appears in 4 contracts
Samples: Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mortgage Investors Inc), Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mortgage Investors Inc), Mortgage Loan Purchase and Sale Agreement (Merrill Lynch Mort Invest Inc MLCC 2003-B Mort Ps THR Cert)
